Koti Meka
About Koti Meka
Koti Meka, 55, is Chief Financial Officer of Faraday Future Intelligent Electric Inc. (FFAI), appointed effective September 23, 2024, after serving as Acting Head of Finance Operations and multiple finance leadership roles at FFAI since 2016; previously, he spent ~14 years at Ford Motor Company in cost optimization and product development finance. He holds an MBA from University of Michigan–Dearborn, an M.S. in Mechanical Engineering from Wayne State University, and a B.Tech. in Mechanical Engineering from Jawaharlal Nehru Technological University, India . As CFO, he is signatory on current SEC filings (e.g., NT 10‑Q and several 8‑Ks), reflecting accountability for financial reporting and capital markets execution .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Faraday Future Intelligent Electric Inc. | Acting Head of Finance Operations | Nov 2023 – Sep 2024 | Managed finance operations; led FP&A; supported process improvement, target setting, and cost-reduction efforts . |
| Faraday Future Intelligent Electric Inc. | Director of Finance (FP&A) | Jul 2017 – Nov 2023 | Led FP&A; supported budgeting and financial analysis for operations . |
| Faraday Future Intelligent Electric Inc. | Operations Controller | Aug 2016 – Jul 2017 | Operations finance oversight . |
| Faraday Future Intelligent Electric Inc. | Senior Manager, Cost Estimating | Feb 2016 – Aug 2016 | Cost analysis and estimating for products/operations . |
| Ford Motor Company | Cost optimization, product development finance, corporate finance roles | Jul 2002 – Feb 2016 | Led financial analysis at Ford Business Services Center in Chennai, India (Dec 2009 – Jul 2013) . |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Qualigen Therapeutics, Inc. (NASDAQ: QLGN) | CFO (to be appointed at closing) | 2025 (subject to closing) | Appointment contemplated in PIPE transaction; FF CFO Koti Meka to serve as CFO of QLGN upon closing . |
Fixed Compensation
| Item | Effective date | Amount | Notes |
|---|---|---|---|
| Base salary (initial, as CFO) | Sep 23, 2024 | $300,000 | Offer letter; increased to $350,000 after 6-month probationary period . |
| Temporary paid base during cost cutting | Late 2024 | $200,000 (pro‑rated) | Cost cutting initiative until full salary restoration at company-wide level . |
| Base salary adjustment | Aug 16, 2025 | $380,000 | Board-approved increase . |
| Discretionary annual performance bonus (target) | Initially | Up to $150,000 | Offer letter; increases to $200,000 after 6-month probationary period . |
| Cash bonus (actual) | Aug 31, 2025 | $30,000 | Board-approved payment . |
| Salary earned (actual, fiscal 2024) | FY 2024 | $160,159 | Summary Compensation Table (2024 actual) . |
| Bonus earned (actual, fiscal 2024) | FY 2024 | — | No bonus paid in 2024 per SCT . |
Performance Compensation
RSUs (time-based)
| Grant schedule | Grant date(s) | Grant date fair value | Vesting |
|---|---|---|---|
| Annual RSUs (planned series) | Sep 23, 2025 | $100,000 | Vests 25% annually over 4 years, subject to continued employment . |
| Sep 23, 2026 | $200,000 | Vests 25% annually over 4 years . | |
| Sep 23, 2027 | $300,000 | Vests 25% annually over 4 years . | |
| Sep 23, 2028 | $400,000 | Vests 25% annually over 4 years . | |
| Sep 23, 2029 | $500,000 | Vests 25% annually over 4 years . | |
| Additional RSUs (Board action) | Aug 16, 2025 | $400,000 | Four-year pro‑rata vesting, annually beginning Aug 16, 2026 . |
PSUs (performance-based; milestones determined by Board)
| Tranche | Target grant date fair value | Trigger (metric) | Vesting |
|---|---|---|---|
| PSU 1 | $100,000 | Upon achievement of first Company/role milestone (Board-determined) | Vests one‑third annually over 3 years . |
| PSU 2 | $150,000 | Second milestone | Vests one‑third annually over 3 years . |
| PSU 3 | $200,000 | Third milestone | Vests one‑third annually over 3 years . |
| PSU 4 | $250,000 | Fourth milestone | Vests one‑third annually over 3 years . |
| PSU 5 | $300,000 | Fifth milestone | Vests one‑third annually over 3 years . |
Metric details, weightings, and payout formulae are not disclosed beyond “milestones and/or performance goals” set by the Board .
Equity Ownership & Alignment
| Category | Detail | As of/Date | Notes |
|---|---|---|---|
| Beneficial ownership (Class A shares) | 5,849 shares | Aug 6, 2025 | <1% of outstanding; includes 10 options exercisable within 60 days . |
| Options | 10 shares (vested/vesting within 60 days) | Aug 6, 2025 | Included in beneficial ownership per SEC rules . |
| RSUs granted (lifetime under 2021 Plan) | 10,505 RSUs | As of Aug 6, 2025 | Historical equity awards table . |
| Rule 10b5‑1 trading plan | Purchase up to $20,000 of Class A | Adopted Jun 12, 2025; expires Sep 15, 2026 | Purchase plan only; no pledging/hedging disclosures noted . |
| Shares outstanding (Class A) | 147,204,145 | Aug 6, 2025 | Used to contextualize ownership percentage . |
Ownership as % of shares outstanding is approximately 0.004%, computed from 5,849 owned shares and 147,204,145 total Class A shares outstanding .
Employment Terms
| Term | Provision | Source |
|---|---|---|
| Appointment date | Appointed Chief Financial Officer effective September 23, 2024 | . |
| Offer letter base/bonus terms | Base $300,000 rising to $350,000 post‑probation; discretionary bonus up to $150,000 rising to $200,000; pro‑rated $200,000 during cost cutting | . |
| Board-adjusted comp (2025) | Base increased to $380,000 effective Aug 16, 2025; $400,000 additional RSUs; $30,000 cash bonus (Aug 31, 2025) | . |
| Change-in-control (plan-level) | Board may accelerate vesting and deem performance measures satisfied at target/maximum; substitution possible | . |
| Option/SAR repricing (plan-level) | Committee may reprice options/SARs without shareholder approval | . |
| RSU/Stock award terms (plan-level) | RSUs may be time- or performance‑vested; dividend equivalents subject to same vesting; settlement terms discretionary | . |
| Severance | Not disclosed for Meka in cited filings | — |
| Non‑compete / non‑solicit | Not disclosed for Meka in cited filings | — |
Governance, Peer Plan Context, and Share Authorization
- The 2021 Stock Incentive Plan covers stock options, SARs, restricted stock/RSUs, and performance awards; the company sought stockholder approval to add 9,500,000 shares to the plan in 2025 .
- The DEF 14A disclosed aggregate historical awards, including 4 options and 10,505 RSUs granted to Meka under the plan’s lifetime to August 6, 2025 .
- The Board recommended approval of the plan amendment and separately proposed increasing authorized common shares by ~39% (to 232,470,985) and preferred shares (to 17,931,000) at a special meeting .
Performance & Track Record Signals
- CFO signatory on multiple capital markets and corporate actions (8‑Ks re: financing, corporate charter amendments, investor presentations), indicating central involvement in liquidity, governance actions, and disclosure controls .
- Corporate filings disclosed adoption of a personal Rule 10b5‑1 purchase plan (up to $20,000), signaling alignment via incremental open‑market accumulation rather than disposition; no insider selling by Meka noted since the company became public, per proxy footnote .
Risk Indicators & Red Flags
- Plan allows option/SAR repricing without shareholder approval, a shareholder‑unfriendly feature that can inflate at‑risk pay and weaken performance alignment .
- Plan-level change‑in‑control terms allow for accelerated vesting and performance deemed satisfied, potentially reducing retention and performance stringency in sale scenarios .
- No disclosure of pledging/hedging by Meka; beneficial ownership and footnotes do not indicate pledging, but absence of disclosure is not confirmation of none .
- SEC Wells Notices referenced for other executives (YT Jia, Jerry Wang) and the company; governance adjustments temporarily excluded Jia from finance/legal oversight—this raises enterprise risk but does not specifically implicate Meka .
Equity Ownership & Vesting Calendar Outlook
- RSU accretion: Scheduled annual RSUs from 2025–2029 plus the $400,000 RSU award in August 2025 create a multi‑year vesting runway beginning August 2026, which may contribute to steady insider equity release potential, subject to continued employment and trading windows .
- PSU contingent awards: Up to $1,000,000 target PSUs across five milestones may increase unvested exposure; vesting pacing at one‑third per year post‑grant dates introduces potential performance‑linked settlement over three years per achieved milestone .
Investment Implications
- Alignment: Personal 10b5‑1 purchase plan and modest share ownership signal some alignment, but low absolute ownership (~0.004% of Class A) limits direct exposure; larger alignment will come from RSU/PSU pipeline over 3–4 years .
- Retention: Multi‑year RSU/PSU schedules provide retention incentives; 2025 compensation increase suggests Board support and continuity in finance leadership during capital‑raising and execution phases .
- Overhang and dilution risk: 2021 Plan expansion, evergreen features, and authorization increases point to continued equity issuance capacity, which may weigh on per‑share economics if not offset by operating progress .
- Governance risk: Option/SAR repricing permissibility and CIC acceleration terms are red flags for pay‑for‑performance rigor; monitor compensation committee practices and future award structures to gauge discipline .
- Cross‑appointment optionality: Potential CFO role at QLGN (CXC10) tied to crypto/web3 spin alignment could broaden responsibilities; watch for time allocation and conflict‑management disclosures post‑closing .